The LGL Group, Inc. Announces Exercise Results of Warrants Distributed in November 2020

The LGL Group (NYSE American: LGL) announced results of warrants distributed November 16, 2020, which expired after 5:00 p.m. on December 31, 2025.

Rhea-AI Summary

The LGL Group (NYSE American: LGL) announced results of warrants distributed November 16, 2020, which expired after 5:00 p.m. on December 31, 2025.

Key facts: 1,051,644 shares of common stock are expected to be issued, generating approximately $5.0 million in gross proceeds. Outstanding shares will rise from 5,406,744 to 6,389,412. The company states 100% of the shares available under the warrants will be issued through basic exercise rights and the over-subscription privilege, subject to final allocation and reconciliation by the company, transfer agent, and DTC. The warrant dividend program has concluded and warrants are no longer exercisable.

Positive

• Gross proceeds of approximately $5.0 million generated from warrant exercises
• 1,051,644 new shares expected to be issued, increasing liquidity
• Warrant overhang removed as the warrant program concluded

Negative

• Shares outstanding increase by ~18% (from 5,406,744 to 6,389,412), diluting existing holders
• Final allocation of over-subscribed shares subject to review, creating short-term settlement uncertainty

Key Figures

New shares from warrants: 1,051,644 shares Gross proceeds: $5.0 million Shares outstanding before: 5,406,744 shares +5 more

New shares from warrants

1,051,644 shares

Common Stock expected to be issued from exercised Warrants

Gross proceeds

$5.0 million

Gross proceeds generated for LGL Group from warrant exercises

Shares outstanding before

5,406,744 shares

Shares outstanding prior to warrant exercise issuance

Shares outstanding after

6,389,412 shares

Shares outstanding expected after warrant-related issuance

Warrant exercise price

$4.75 per share

Exercise price for each share under the Warrants

Warrant ratio

5 warrants for 1 share

Each five Warrants exercisable into one share of Common Stock

Warrant expiration time

5:00 p.m. on Dec 31, 2025

Final expiration time for the November 2020 Warrants

Common stock par value

$0.01 per share

Par value of LGL Group Common Stock

Historical Context

5 past events · Latest: Dec 29

5 events

1. Dec 29

   Warrant extension

   24h Move

   -0.8%

   Extended warrant expiration to Dec 31, 2025 with unchanged terms.

2. Dec 15

   Warrant extension

   24h Move

   -0.9%

   Board extended warrant expiration to Dec 30, 2025; over-subscription retained.

3. Dec 03

   Warrant extension

   24h Move

   -0.5%

   Warrant expiry moved to Dec 16, 2025; exercise terms unchanged.

4. Nov 13

   Q3 2025 earnings

   24h Move

   +6.0%

   Reported Q3 profitability, strong gross margin, and sizeable cash balance.

5. Nov 06

   Warrant extension

   24h Move

   +0.3%

   Extended warrant expiration to Dec 9, 2025 at $4.75 per share.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

warrants, over-subscription privilege, transfer agent, exercise price

4 terms

warrants financial

"results of the exercise of warrants to purchase shares of LGL Group common stock"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

View in glossary

over-subscription privilege financial

"Under-Subscribed Shares through the Over-Subscription Privilege and final adjustments"

An over-subscription privilege is a feature of a share offering that lets existing investors request more shares than their initial entitlement, with any extra allocation given only if other investors do not take their full allotment. It matters because it gives shareholders a chance to increase their stake and avoid losing ownership percentage, much like ordering extra slices at a party in case others pass—however, receiving the extras is not guaranteed.

transfer agent financial

"subject to the Company, transfer agent, and Depository Trust Company review"

A transfer agent is a financial service that keeps the official record of who owns a company's shares, handles the buying and selling of those shares on paper or electronically, and issues or cancels stock certificates. Think of it as the company’s records keeper and mailroom combined—investors rely on it to make sure dividends, shareholder mailings, ownership changes, and proxy voting are processed accurately and securely, which protects ownership rights and helps prevent errors or fraud.

exercise price financial

"Five (5) Warrants were exercisable to purchase one (1) share ... at an exercise price of $4.75"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Orlando, Florida--(Newsfile Corp. - January 7, 2026) - The LGL Group, Inc. (NYSE American: LGL) ("LGL Group" or the "Company") today announced the results of the exercise of warrants to purchase shares of LGL Group common stock, par value $0.01 (the "Common Stock"), initially distributed on November 16, 2020 (the "Warrants"). The Warrants expired after 5:00 p.m. on Wednesday December 31, 2025 with 100% of the shares available to be issued from the Warrants to be issued through a combination of the Basic Warrant Exercise Rights and the Over-Subscription Privilege. The final distribution is subject to the Company, transfer agent, and Depository Trust Company review of the allocation of Under-Subscribed Shares through the Over-Subscription Privilege and final adjustments for reconciliation of Warrant exercises and expected next week.

"I am delighted to join LGL Group at this time with the confidence of a renewed shareholder base post Warrant exercise," said Jason Lamb, LGL Group Chief Executive Officer.

"We would like to thank our shareholders for their participation in the Warrants," said Marc Gabelli, Executive Chairman of the Board of Directors.

"This is an unprecedented period of growth in national defense, with small, entrepreneurial new entrants positioned to take share and redefine the historical market. Our strength in radio frequency designs sets the foundation for opportunities to come," continued Mr. Lamb. "Furthermore, our Merchant Investment template should prove fruitful for shareholders."

Highlights:

• 1,051,644 shares of Common Stock are expected to be issued
• Approximately $5.0 million in gross proceeds generated for LGL Group
• Shares outstanding will increase from 5,406,744 shares to 6,389,412 shares
• Warrant dividend program has concluded and warrants are no longer exercisable

Background on Warrant Dividend

LGL Group announced a dividend of warrants on October 29, 2020, with warrants distributed on November 16, 2020, to stockholders of record on November 9, 2020. Five (5) Warrants were exercisable to purchase one (1) share of common stock at an exercise price of $4.75 per share. Additionally, there was an over-subscription privilege available to Warrant holders who exercised their Warrants in full, whereby such Warrant holder could subscribe for any or all of the shares issuable pursuant to any unexercised Warrants on the terms and subject to the conditions outlined in the Warrant Agreement.

About The LGL Group, Inc.

The LGL Group, Inc. ("LGL," "LGL Group," or the "Company") is a holding company engaged in services, merchant investment and manufacturing business activities. Precise Time and Frequency, LLC ("PTF") is a globally positioned producer of industrial Electronic Instruments and commercial products and services. Founded in 2002, PTF operates from our design and manufacturing facility in Wakefield, Massachusetts. Lynch Capital International LLC is focused on the development of value through investments.

LGL Group was incorporated in 1928 under the laws of the State of Indiana, and in 2007, the Company was reincorporated under the laws of the State of Delaware as The LGL Group, Inc. We maintain our executive offices at 2525 Shader Road, Orlando, Florida 32804. Our telephone number is (407) 298-2000. Our Internet address is www.lglgroup.com. LGL Group common stock is traded on the NYSE American under the symbol "LGL."

LGL Group's business strategy is primarily focused on growth through expanding new and existing operations across diversified industries. The Company's engineering and design origins date back to the early 1900s. In 1917, Lynch Glass Machinery Company ("Lynch Glass"), the predecessor of LGL Group, was formed and emerged in the late 1920s as a successful manufacturer of glass-forming machinery. Lynch Glass was then renamed Lynch Corporation ("Lynch") and was incorporated in 1928 under the laws of the State of Indiana. In 1946, Lynch was listed on the "New York Curb Exchange," the predecessor to the NYSE American. The Company has a had a long history of owning and operating various businesses in the precision engineering, manufacturing, and services sectors.

Cautionary Note Concerning Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, such as those pertaining to the Company's financial condition, results of operations, business strategy and financial needs. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. The words "believe," "expect," "anticipate," "should," "plan," "will," "may," "could," "intend," "estimate," "predict," "potential," "continue" or the negative of these terms and similar expressions, as they relate to LGL Group, are intended to identify forward-looking statements.

These forward-looking statements are largely based on current expectations and projections about future events and financial trends that may affect the financial condition, results of operations, business strategy and financial needs of the Company. They can be affected by inaccurate assumptions, including the risks, uncertainties and assumptions described in the filings made by LGL Group with the Securities and Exchange Commission ("SEC"), including those risks set forth under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 as filed with the SEC on March 31, 2025. In light of these risks, uncertainties and assumptions, the forward-looking statements in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. When you consider these forward-looking statements, you should keep in mind these risk factors and other cautionary statements in this press release.

These forward-looking statements speak only as of the date of this press release. LGL Group undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

###

Contact:

The LGL Group, Inc.
info@lglgroup.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279747

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares will LGL (NYSE: LGL) issue from the 2020 warrants?

LGL expects to issue 1,051,644 shares of common stock from the warrants.

How much cash did LGL (LGL) raise from the warrant exercises on January 7, 2026?

The warrant exercises generated approximately $5.0 million in gross proceeds.

What is the impact on LGL (NYSE: LGL) outstanding shares after the warrant exercises?

Outstanding shares will increase from 5,406,744 to 6,389,412, an increase of about 18%.

Are the warrants distributed by LGL in 2020 still exercisable?

No, the warrant dividend program has concluded and the warrants are no longer exercisable.

What does LGL’s over-subscription privilege mean for shareholders?

Warrant holders who exercised in full could subscribe for unexercised shares; final allocation is subject to company, transfer agent, and DTC review.